Are You a Broker? What is a Broker?

No. SS&A is a Registered Investment Advisor. We do not collect fees from transactions; there are no fees or kickbacks received by SS&A. In most cases, brokers are compensated according to the level and frequency of trades generated in a client’s account via mutual fund loads, 12b-1 fees, annuity sales and transaction costs. In contrast, we charge a flat percentage fee on the average monthly balance of the account irrespective of transaction volume or product. We feel this structure better aligns the interests of the client with the incentives of the manager. There is no benefit for SS&A in excessive trading and no incentive to put a client in high fee products. Rather we benefit from the real performance of the portfolio and its alignment with the IPS.